Foreign Investors Included in Nitaqat Program: Saudi Ministry's Move Towards Equal Treatment

KSA, 19 March, 2024 : The Saudi Ministry of Human Resources and Social Development has approved the inclusion of foreign investors as Saudis under the Nitaqat Saudization program, as reported by the Qiwa platform affiliated with the ministry. This move aims to treat certain categories of non-Saudis equally to Saudis in calculating Saudization percentages.

Under the Nitaqat program, two categories of non-Saudis will be treated as Saudis: sons and daughters of Saudi women from non-Saudi fathers or non-Saudi widows of Saudi citizens. Additionally, Saudi citizens working remotely will be considered equivalent to regular Saudi employees.

Certain groups, such as workers from displaced tribes, citizens of Gulf countries, and Gulf athletes, will also be treated equally to Saudis in Saudization calculations.

However, some expatriates will be counted at lower proportions in Saudization calculations. For instance, Palestinians holding Egyptian passports and Baluchis will be calculated at 0.25 of the normal proportion of expatriate workers. Similarly, individuals from Myanmar will be counted at the same rate, with exceptions for Burmese nationals residing in Makkah and Madinah.

Meanwhile, the Ministry of Investment reported a significant increase in foreign direct investment, reaching SR105 billion by the end of 2022, a 21.4% rise compared to the previous year. This surge reflects improvements in the investment environment and efforts to enhance competitiveness, aligning with Vision 2030 goals and the National Investment Strategy.

Source : www.saudigazette.com